• GAME unsure over future as it reportedly puts itself up for sale- Share price plummets to below 1p.
    44 replies, posted
[quote = Eurogamer]GAME has admitted it is unsure over its future as reports swirl that it has put itself up for sale. The high street specialist shop issued a statement this morning after a Sunday Times report (via MCV) claimed it had drafted in Rothschild to find a buyer. GAME has to pay landlords in two weeks, according to the report. Deloitte is apparently on standby should GAME enter into an insolvency process. GAME suffered a blow last week when it failed to stock Mass Effect 3 - the biggest game of the year so far. In a press release issued this morning, GAME insisted it was still working with publishers to prevent further stock issues and trying to secure additional funding - but admitted its efforts may be in vain. The statement in full: "Further to GAME's announcement of 29th February 2012 and recent press speculation, the Group confirms that it remains in discussions with its suppliers and lenders in relation to terms of trade that allow the business to operate within the facility provided by its banking syndicate, as announced on 3rd February 2012, and to meet its revised strategic plan. While these discussions are on-going, it has not been possible to source new products from a number of suppliers. "The Board of GAME is working actively to resolve these issues as quickly as possible. This includes on-going discussions with suppliers, seeking access to the original facility or alternative sources of funding, and reviewing the position of all of its assets in the UK and international territories. "It is uncertain whether any of the solutions currently being explored by the Board will be successful or will result in any value being attributed to the shares of the Company." Last week GAME started its Spring Clean promotion, which saw games, hardware and accessories heavily discounted - particularly pre-owned. This firesale is believed to be an attempt to raise funds so GAME can continue trading in the short term - and boost its attractiveness to potential buyers. US giant GameStop is reportedly interested, but may move first on GAME's Iberian business. Adding to GAME's troubles, its share price has plummeted to below 1p. At the time of writing a share in GAME cost 0.85p - down an incredible 75.73 per cent. It's current market capitalisation is £2.93 million.[/quote] [url]http://www.eurogamer.net/articles/2012-03-12-game-unsure-over-future-as-it-reportedly-puts-itself-up-for-sale[/url] Well now'd be perfect to buy a shit loads of shares if they're going to get sold :v:
Game's one of the few companies that make preorders available for only 40€ while everyone else is throwing the price over the god damn roof with 70€ and such. Would suck if they get to disappear.
[QUOTE=Ganerumo;35105400]Game's one of the few companies that make preorders available for only 40€ while everyone else is throwing the price over the god damn roof with 70€ and such. Would suck if they get to disappear.[/QUOTE] Would you rather have cheaper brick and mortar pre orders, or get your games on tuesdays like america.
I'd be glad if they just collapsed.
Where to buy shares????
Whelp, I call fubar.
nooooo my cheap pre-owned ps3 games :(
[QUOTE=TrannyAlert;35105767]Where to buy shares????[/QUOTE] I think you need a Stockbroker first.
Strange how this happens after they announce they're not stocking mass effect 3. Just look at their most searched game: [IMG]http://i.imgur.com/ZdhVs.png[/IMG]
GAME acted like a pompous child, they got everything they deserved.
Will this mean that some games will show up on steam for the UK?
This comes as no surprise considering the price of their games and the lack of PC games in their shops. I've not bought any games from anything but Steam for over two years.
1p a share, that is pretty damn awesome. If you bought 100 hundred for £1 and the company SOMEHOW gets bought and the shares rocket back up to in price, then you've just made a hell of a lot of cash.
[QUOTE=Ganerumo;35105400]Game's one of the few companies that make preorders available for only 40€ while everyone else is throwing the price over the god damn roof with 70€ and such. Would suck if they get to disappear.[/QUOTE] What? I Bought BF3 for £35 on a pre-order in Grainger Games.
[QUOTE=D3vils Buddy;35109219]1p a share, that is pretty damn awesome. If you bought 100 hundred for £1 and the company SOMEHOW gets bought and the shares rocket back up to in price, then you've just made a hell of a lot of cash.[/QUOTE] Not a huge amount extra. I wanna spend 10 bucks on shares, though, just because. Then if they make it back, I am rich.
How the fuck do i buy shares, no matter what its nothing if they dont go back up. If they are saved then i become rich
[QUOTE=CubeManv2;35109262]How the fuck do i buy shares, no matter what its nothing if they dont go back up. If they are saved then i become rich[/QUOTE] You need a brokerage account, such as [url=https://www.barclaysstockbrokers.co.uk/Pages/index.aspx]Barclays Stockbrokers[/url]. I was also thinking about buying £10 worth of shares, thinking I might wait for a bit though to see what happens.
I kinda feel bad, not for the company but my local shop which was pretty cool. Was nice to go in there, look around some pre-owned stuff and get a game, have a little chat with the guys at the desk about future games and stuff. I'll miss that :v:.
[QUOTE=st_nick5;35109274]You need a brokerage account, such as [url=https://www.barclaysstockbrokers.co.uk/Pages/index.aspx]Barclays Stockbrokers[/url]. I was also thinking about buying £10 worth of shares, thinking I might wait for a bit though to see what happens.[/QUOTE] If you want to never see that £10 again ever (especially if they go into administration), go for it. Might be worth it just for a laugh though :v:
[QUOTE=OrangeElimin;35109254]Not a huge amount extra. I wanna spend 10 bucks on shares, though, just because. Then if they make it back, I am rich.[/QUOTE] Oh yea, you'd make some really good cash if it makes it back again. If you spent £10 on the shares and then they went back up to £1 each you've made ~£1000 [editline]12th March 2012[/editline] [QUOTE=leach139;35109342]If you want to never see that £10 again ever (especially if they go into administration), go for it. Might be worth it just for a laugh though :v:[/QUOTE] I'm going to do it, only because there is a small small small chance that they DO get bought up. £10 isn't much now that I've got a full time job so it isn't really a loss for me.
[QUOTE=D3vils Buddy;35109357]I'm going to do it, only because there is a small small small chance that they DO get bought up. £10 isn't much now that I've got a full time job so it isn't really a loss for me.[/QUOTE] The LSE has closed now, GMG.L is now worth 1.19 points. I'd wait to see what happens overnight and what the market does in the morning before buying.
[QUOTE=leach139;35109415]The LSE has closed now, GMG.L is now worth 1.19 points. I'd wait to see what happens overnight and what the market does in the morning before buying.[/QUOTE] I'm going to give my dad the money tomorrow as he has a stockbroker account.
[QUOTE=D3vils Buddy;35109452]I'm going to give my dad the money tomorrow as he has a stockbroker account.[/QUOTE] Also bear in mind that you'll be paying commission to the broker, which is normally ~£10 per deal iirc (depending on how many deals your dad does per month), so you'll have to weigh that up
[QUOTE=leach139;35109507]Also bear in mind that you'll be paying commission to the broker, which is normally ~£10 per deal iirc (depending on how many deals your dad does per month), so you'll have to weigh that up[/QUOTE] Yea I noticed the commission price when I considering making a Santander Stockbroker account, its £7.50 I think I saw.
[QUOTE=D3vils Buddy;35109549]Yea I noticed the commission price when I considering making a Santander Stockbroker account, its £7.50 I think I saw.[/QUOTE] Barclays is £12.50 :|
buy all the shares!
itt: everyone is a stock market expert
Can... can I buy shares in a European company if I live in America? I want in on this get-rich-quick scheme
I didn't know that GAME was until a few weeks ago about how much they suck, now this. Wow.
Since GAME converted my Gamestation in to a GAME, I've bought hardly anything from there. Gamestation is a vastly superior shop, despite being owned by the same company. GAME in Nottingham also used to have a fucking massive shop, filled with all kinds of good stuff, and had a floor dedicated to PC games and older systems. Then they got rid of that, packed up, and moved down the street in to a tiny, cramped shop no bigger than a Greggs, and now only sell games which are less than 5 milliseconds old.
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